How to Become a Realtor®
Have you ever thought about becoming a Realtor®? Not sure where to start? We’ve broken down the whole process into five simple steps:
Decide if a career in real estate is right for you
A successful Realtor® is:
- A people person who is focused on building relationships and extending their networks
- Hardworking with great attention to detail
- Willing to work flexible hours and be available at short notice
- Able to maintain a high degree of integrity and professionalism
- Market savvy and willing to keep up with industry trends
2. Decide if now is the right time to begin your real estate career
To become a licensed Realtor®, you need to be at least 19 years of age. You also need to meet the requirements known as “being of good reputation.” This includes business and personal reputation and criminal convictions. Research these requirements before you apply, and if you have any concerns about your eligibility to become a Realtor®, you can complete a pre-screening application form prior to registering for the licensing course. You will also need to satisfy the Language Proficiency Requirement to make sure you meet the minimum English language requirements to become a Realtor® in BC.
Make sure you have the cash in the bank to support a career change. It will take time to complete your training and become a licensed Realtor®, and it may take a while for you to build up a large network of clients. You also need to be prepared for training fees, brokerage fees and business start-up costs (take a look at the BCREA start-up cost breakdown).
3. Register for and complete the Licensing Course and Examination
The Real Estate Trading Services Licensing Course is a self-paced program, and all units must be completed within a year of registering. The course is run by UBC’s Sauder School of Business.
The course covers a range of topics including law fundamentals, title registration, the Real Estate Services Act, professional ethics, financial statements, tax, contracts, interest rates and mortgages, building design and construction, appraisals, professional liability, tenancies, strata properties, statements of adjustments and completion of the sale, marketing, technology and more. The Sauder School of Business has a more detailed overview of the course contents available here. At the end of the course, students’ knowledge is tested with a challenging 20-question multiple-choice exam.
4. Find a brokerage
Before you can be licensed, you need to be engaged by a brokerage. Once you’ve completed your licensing course, you can start connecting with brokerages to see which one you would like to be part of.
All brokerages operate a little differently, so it is important to do your research and find a brokerage that fits your needs. If you’re hoping to join a real estate team in Prince George, BC, we recommend Team Powerhouse Realty!
5. Complete the Applied Practice Course
You can choose to take the Residential or Commercial Applied Practice Course. Both courses are broken down into four components:
- Online modules (5)
- Classroom sessions
- Online field assignments
- Classroom sessions
Both courses focus on the application and practice of agency, disclosure and drafting enforceable contracts. Once you have received your temporary license, you will work under the supervision of your brokerage to complete the practical components of the course. After receiving your temporary license, you have up to six months to complete the final components of the course.
For more information about becoming a Realtor® in BC, visit http://www.bcrea.bc.ca
For more information about joining Team Powerhouse Realty, give us a call (250-563-1000) or visit “Join Our Team.”